Viridian Therapeutics (NASDAQ:VRDN) Stock Price Up 5.8% – Still a Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price was up 5.8% during trading on Tuesday . The stock traded as high as $21.33 and last traded at $21.23. Approximately 571,464 shares traded hands during trading, a decline of 60% from the average daily volume of 1,425,859 shares. The stock had previously closed at $20.07.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VRDN shares. The Goldman Sachs Group raised their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday. TD Cowen started coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating on the stock. BTIG Research upped their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada lifted their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Viridian Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Trading Down 8.4 %

The stock has a 50 day moving average of $20.67 and a 200-day moving average of $18.81. The company has a market capitalization of $1.52 billion, a P/E ratio of -4.44 and a beta of 1.13. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares in the last quarter. AlphaCentric Advisors LLC grew its holdings in shares of Viridian Therapeutics by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock valued at $341,000 after purchasing an additional 2,500 shares in the last quarter. DCF Advisers LLC raised its stake in Viridian Therapeutics by 22.4% during the second quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock valued at $231,000 after purchasing an additional 3,250 shares in the last quarter. Finally, Quest Partners LLC lifted its position in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.